Crypto Schemes | FinTelegram News

Category: Crypto Schemes

Crypto Schemes

March 28, 2025

No Crypto Magic Here: GameStop’s Bitcoin Bet Backfires, Shares Tumble

GameStop (GME) gained notoriety as a "meme stock" in 2021 when retail investors, coordinating on social media platforms like Reddit, drove its share price to unprecedented heights. This phenomenon, known as a "short squeeze," caught many institutional investors off guard. GameStop recently announced plans to add Bitcoin (BTC) to its treasury reserve assets, following in the footsteps of companies like MicroStrategy.

March 19, 2025

Financial Analyst Update: Libra Token Scandal and New York Lawsuit

The Libra token ($LIBRA) scandal has escalated into one of the most significant cryptocurrency controversies of 2025, with a class-action lawsuit filed in New York spotlighting alleged misconduct by key players in the token’s launch. Here are the latest developments surrounding this debacle, including the legal action initiated by Burwick Law against Kelsier Ventures, KIP Protocol, and Meteora, as well as the broader implications for the crypto market and investors.

March 11, 2025

Chainalysis Report Details Dismantling of Russian Crypto Exchange Garantex

This report summarizes key findings from a recent Chainalysis analysis regarding the Russian cryptocurrency exchange Garantex, a subject previously covered by FinTelegram due to its alleged role in facilitating illicit financial activities. The Chainalysis report provides further details on Garantex's operations, its connections to illicit actors, and the impact of international regulatory actions.

February 18, 2025

Indian Authorities Seize $250 Million Loot From BitConnect Crypto Fraud Scheme!

Indian authorities have made a significant breakthrough in the ongoing investigation into the BitConnect crypto-Ponzi scheme, seizing over $250 million in assets linked to the fraud operation. This report provides an overview of the seizure, the methods employed by Indian authorities, and the potential implications for BitConnect investors.

February 17, 2025

Investor Briefing: $LIBRA Coin – From Presidential Endorsement to Alleged Fraud!

In mid-February 2025, Argentine President Javier Milei endorsed a new cryptocurrency, $LIBRA, promoting it as a private initiative aimed at stimulating Argentina's economy. This endorsement led to a rapid surge in $LIBRA's value, with its market capitalization peaking at approximately $4.6 billion within hours. However, the coin's value plummeted shortly thereafter, resulting in significant financial losses for investors.

February 12, 2025

Investor Briefing: Crypto Custodian BitGo Contemplates Late 2025 IPO Amid Industry Shift!

Cryptocurrency custodian BitGo is exploring an initial public offering (IPO) potentially slated for the second half of 2025, signaling a significant move in the evolving digital asset landscape. This development comes as the crypto industry experiences a surge in public listing interest, driven by favorable market conditions and regulatory optimism.

January 28, 2025

KuCoin Pleads Guilty: $297M Settlement and Management Changes in U.S. Crypto Crackdown!

Seychelles-based KuCoin, one of the largest crypto exchanges globally, pleaded guilty in the U.S. to operating an unlicensed money transmitting business and agreed to pay $297 million in fines and forfeitures. The settlement highlights failures in anti-money laundering (AML) and compliance practices, forcing KuCoin to exit the U.S. market for two years.

January 20, 2025

Trump vs. Melania: Meme Coin Showdown Rocks Crypto Market on Inauguration Eve!

Welcome to the crypto presidency. On the eve of Donald Trump's presidential inauguration, the crypto world was rocked by an unprecedented "meme coin war" between the President-elect and his wife, Melania Trump. The $TRUMP coin, launched just days ago, saw its meteoric rise abruptly halted as Melania unexpectedly unveiled her own $MELANIA token, causing a seismic shift in the market.

December 29, 2024

Investment Briefing: Tether Faces Ban in the EU Despite European Partner StablR!

FinTelegram anticipates that Tether, the world’s leading stablecoin issuer, may be banned in the EU starting in 2025 due to non-compliance with the EU’s new MiCA (Markets in Crypto-Assets Regulation) framework. Tether has not applied for or received MiCA authorization, raising questions about its future in Europe. Moreover, its investment in the European stablecoin issuer StablR represents a red flag.

December 9, 2024

Haliey Welch and the $HAWK Token Rug Pull Scandal: A Warning for Financial Influencers!

Haliey Welch's role in launching the $HAWK token has drawn widespread scrutiny. Accusations of deliberate market manipulation, a swift valuation collapse, and potential legal ramifications put Welch’s reputation—and her future as a trusted influencer—on shaky ground. This debacle underscores the risks of unregulated meme coins and the responsibility influencers bear when engaging with financial products.

December 4, 2024

Next in Line: Crypto Entrepreneur Alex Mashinsky Pleads Guilty to Fraud and Market Manipulation Charges!

Alex Mashinsky, 59, the founder and former CEO of crypto lender Celsius Network, has recently pleaded guilty to fraud charges in the U.S. Prosecutors have said Mashinsky also personally reaped approximately $42 million in proceeds from selling his holdings of the Cel token. His trial is scheduled for Jan 2025. This report will provide context, explain the Celsius Network case, and offer background on the crypto winter of 2022.

Crypto Schemes

November 29, 2024

The Phantom of OneCoin: Is Ruja Ignatova Alive and Hiding in South Africa?

In the shadowy corridors of the cryptocurrency world, few figures loom as large—or as enigmatically—as the Bulgarian Ruja Ignatova, the so-called "CryptoQueen." As the architect of OneCoin, a fraudulent digital currency scheme that swindled investors out of over $4 billion, Ignatova's tale is a labyrinthine blend of high finance, deception, and a vanishing act that would make Houdini proud.

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.

Prison Update: Sam Bankman-Fried Transferred to Low-Security Federal Prison in Los Angeles!

Sam Bankman-Fried (SBF), the founder of the now-defunct cryptocurrency exchange FTX, has been transferred to the Federal Correctional Institution (FCI) Terminal Island in Los Angeles, California. This low-security facility is known for housing non-violent offenders and has previously held notable inmates such as Ramesh "Sunny" Balwani, former COO of Theranos.

Startup on Trial: Celsius Network and Alex Mashinsky – When Deception Dressed Up as DeFi Innovation!

Celsius Network promised financial freedom through crypto, only to collapse into one of the most catastrophic failures in the DeFi sector. Founder Alex Mashinsky portrayed himself as the champion of the unbanked—yet behind the scenes, Celsius engaged in reckless trading strategies, misled customers, and operated more like a hedge fund than a lending platform.